Which of the following actions is considered ethical for a real estate licensee?

Taking a buyer to a for-sale-by-owner property is considered ethical because it involves facilitating a legitimate transaction where the buyer is interested in exploring available options in the market. Real estate licensees are expected to represent their clients' best interests, which includes helping them find properties that meet their needs, regardless of whether those properties are listed with a broker or being sold directly by the owner.

In this context, it’s important to note that the actions of contacting a seller who is already listed with another broker could potentially violate the rules of brokerage engagement and ethical standards set forth by industry regulations. Telling a buyer there are other offers when there are not violates ethical standards of honesty and integrity that licensees must uphold. Refusing to write an offer requested by a buyer can also raise ethical concerns unless there are valid reasons based on the buyer's well-being or financial ability. Therefore, assisting a buyer in exploring properties without restrictions aligns perfectly with the ethical duties of a real estate licensee.